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More equipment parts exempted from import tax

(Xinhua)

09:34, March 13, 2012

BEIJING, March 12 (Xinhua) -- China's Ministry of Finance (MOF) has revised a list of major items of technical equipment enjoying import-tax exemption, according to a circular issued by the body on Monday.

Chinese manufacturers of items of large technical equipment have been exempted from customs duties and import value-added tax for the necessary import of crucial equipment parts and raw materials since July 1, 2009, according to the MOF.

The ministry has made the revisions "based on the development of relative industries and taking into consideration suggestions from industry authorities, associations and enterprises," according to the circular.

The MOF has added items including oil refinery equipment, ships and oceanographic engineering equipment into the list.

The revisions will be effective from April 1 this year, and a detailed list of the revisions is available on the MOF website.

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